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Early in the year, Marcus was in an automobile acc...

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Early in the year, Marcus was in an automobile accident during the course of his employment. As a result of the physical injuries he sustained, he received the following payments during the year: Reimbursement of medical expenses paid by a medical insurance policy Marcus purchased - $7,000 Damage settlement to replace his lost salary - $6,000 What is the amount that Marcus must include in gross income for the current year? a) $20,000 b) $13,000 c) $7,000 d) $6,000 e) $0

 

Paper#5131 | Written in 18-Jul-2015

Price : $25
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